View on market: Stay Cautious, be with quality business:

Most Asian stocks slipped in early trading Tuesday and U.S. futures edged higher as traders await a Federal Reserve meeting that is expected to leave policy exceptionally loose despite robust growth Indices dipped in Australia, South Korea and Japan. U.S. contracts were in the green after solid corporate earnings helped the S&P 500 Index notch another record, with most of the main 11 industry groups gaining. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was up 0.18% at 14,512, as of 8.09 a.m.

Key Data/ Action, Result and Board meeting to watch

Major economic Data:

  • INR: Infrastructure Output YoY (Mar) on 30th April, 2021
  • INR: Markit Manufacturing PMI (Apr) on 3rd May, 2021
  • USD: Fed Interest Rate Decision on 28th April, 2021

Nifty Results: Axis Bank, Maruti Suzuki India, Britannia Industries, Bajaj Finance

International Markets:

U.S & Europe

Particulars    25th Apr. Chg Chg(%)
Nasdaq 14138.78 121.97 0.87
Dow 33981.57 -61.92 -0.18
FTSE 6963.12 24.56 0.35
CAC 6275.52 17.58 0.28
DAX 15296.34 16.72 0.11
Dow Fut.* 33,981.57 28 0.09


Asian markets:

Particulars    27th Apr. Chg Chg(%)
SGX Nifty 14512.80 25.60 0.18
Nikkei 29078.08 -48.15 -0.17
Straits Times 3213.88 8.98 0.28
Hang Seng 28897.7 -55.13 -0.19
Shanghai 3438.38 -2.79 -0.08


ADR Watch:

Particulars       25th Apr. Chg Chg(%)
Dr Reddy 67.86 -0.19 -0.28
HDFC Bank 71.12 1.69 2.43
ICICI Bank 15.94 0.86 5.7
Infosys 18.01 0.12 0.67
Tata Motor 19.81 0.11 0.56
Wipro 7.19 0.02 0.28


Commodities & Currency

Particulars Current Price Chg(%)
USD/INR       74.72      0.08
Brent 65.34 0.49
Gold 1,776.25     -0.22
Silver 26.15     -0.18


Particulars   25th Apr.       23rd Apr.
FIIs -1,111.89    -1,360.76
DIIs    1,022.57    1,695.59


Non-Nifty Results:

ABB India, Gateway Distriparks, Hatsun Agro Product, HDFC Asset Management Company, Hindustan Zinc, JTL Infra, Moschip Technologies, Nippon Life India Asset Management, PNB Housing Finance, Sanofi India, Symphony, Syngene International, Tata Investment Corporation, TVS Motor Company, United Breweries, VST Industries

HDFC Life Q3FY21 (Standalone, YoY)

PAT up 2% at Rs 317.94 crore Vs Rs 311.71 crore Net premium income up 23% at Rs 12,868 crore Vs Rs 10,464 crore Value of New Business increased by 14% to Rs 2,185 crore 13th and 25th persistency stood at 90% and 81% respectively, up from 88% and 76% in the previous year Sold about 9.8 lakh new individual policies registering a growth of 10%. Solvency at 201% Has recommended a final dividend of Rs 2.02 per share

Tech Mahindra Q4FY21 (Consolidated, QoQ)

Revenue up 1% at Rs 9,729.9 crore Vs Rs 9,647.1 crore (Bloomberg Estimate: Rs 9831.8 crore) Net profit down 17% at Rs 1081.4 crore Vs Rs 1309.8 crore (Bloomberg Estimate: Rs 1307.4 crore) Ebit up 1% at Rs 1,553 crore Vs Rs 1,537 crore (Bloomberg Estimate: Rs 1,546.8 crore) Ebit margins at 16% Vs 15.9%

SBI Cards & Payments Services Q4FY21 (Standalone, YoY)

Revenue down 5% at Rs 2,308.68 crore Vs Rs 2,433.24 crore Net profit up 110% at Rs 175.42 crore Vs Rs 83.55 crore GNPA at 4.99% Vs 2.01% NNPA at 1.15% Vs 0.67% Total management overlay provision at Rs 297 crore Impairment losses & bad debts expenses at Rs 705 crore Vs Rs 838 crore Capital Adequacy Ratio at 24.8% New accounts volume at 791K accounts Receivables up 4% to Rs 25,114 crore Vs Rs 24,141 crore Market share by cards issued rises to 19% Vs 18.3%; share of spends at 19.5% Vs 17.9%

Castrol India Q1CY21 (QoQ)

Revenue up 22% at Rs 1,138.7 crore Vs Rs 935.2 crore PAT up 30% at Rs 243.6 crore Vs Rs 187.7 crore EBITD up 32% at Rs 340.10 crore Vs Rs 257.6 crore EBITDA margins at 29.9% Vs 27.5%

News Update:

Bank of Maharashtra:

The board will consider raising capital by issuing Basel III bonds either through a follow-on public offer, rights issue, qualified institutional placement, preferential issue or a combination of these. The board will meet on April 29 to consider the proposal.

Tata Motors:

Company says lockdown in various parts of the country is expected to hit vehicle demand temporarily. The automaker said it will ensure optimal inventory levels by calibrating supplies with retail demand and also be prepared for a rebound in case of a return to normalcy. The company will also review and plan for the critical raw materials to cater to this volatile demand outlook.

Tech Mahindra:

Board has approved a proposal for the acquisition of a 100% stake in Eventus Solutions Group LLC through its wholly-owned U.S. subsidiary for up to $44 million including earnouts. The transaction is expected to close by June 15, 2021.


The Bhilai steel mill will undertake a short shutdown to boost liquid oxygen supply in the country. The company said the closure will boost oxygen supply by 15 tonnes and will not affect dispatches.


Offer for sale by promoter Shah Family Trust has been subscribed 193% by non-retail investors on the first day of the issue. Promoters plan to sell up to 58.1 lakh equity shares, or a 5.38% stake, at a floor price of Rs 111 per share. The issue will continue on April 27.

Federal-Mogul Goetze: Offer for sale gets subscribed 395% by non-retail investors on the first day.

Hathway Cable and Datacom: Offer for sale gets subscribed 151% by non-retail investors on the first day.

Source: Moneycontrol, Livemint, Business Standard, Bloomberg, Investing

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